Fintel reports that on May 10, 2023, HC Wainwright & Co. maintained coverage of Adicet Bio (NASDAQ:ACET) with a Buy recommendation.
Analyst Price Forecast Suggests 319.32% Upside
As of April 24, 2023, the average one-year price target for Adicet Bio is 28.22. The forecasts range from a low of 19.19 to a high of $39.90. The average price target represents an increase of 319.32% from its latest reported closing price of 6.73.
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The projected annual revenue for Adicet Bio is 5MM, a decrease of 78.16%. The projected annual non-GAAP EPS is -2.08.
What is the Fund Sentiment?
There are 252 funds or institutions reporting positions in Adicet Bio. This is an increase of 16 owner(s) or 6.78% in the last quarter. Average portfolio weight of all funds dedicated to ACET is 0.14%, a decrease of 35.47%. Total shares owned by institutions increased in the last three months by 6.12% to 45,394K shares. The put/call ratio of ACET is 0.20, indicating a bullish outlook.
What are Other Shareholders Doing?
Orbimed Advisors holds 7,447K shares representing 17.34% ownership of the company. No change in the last quarter.
Rtw Investments holds 4,241K shares representing 9.87% ownership of the company. No change in the last quarter.
EcoR1 Capital holds 3,561K shares representing 8.29% ownership of the company.
Cowen And Company holds 3,144K shares representing 7.32% ownership of the company. No change in the last quarter.
Carlyle Group holds 2,115K shares representing 4.92% ownership of the company.
Adicet Bio Background Information
(This description is provided by the company.)
Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of 'off-the-shelf' gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.
This story originally appeared on Fintel.
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